Retail premises for sale in 42-46 Buchanan Street, Glasgow G1

Key Points

Description

Let to Hotel Chocolat and l’Occitane, two internationally recognised luxury brands.

Rare opportunity to acquire two 100% prime retail units on the UK’s strongest retail street
outside of London’s West End.

2.3m Catchment - Glasgow is the largest city in Scotland and benefits from an extensive
catchment population of 2.3 million people.

Biggest and best retail market - The city has the biggest and best retail market in the UK
outside of London’s West End, and Buchanan Street is the undoubted prime pitch.

Zero vacancy - Buchanan Street has zero vacancy and rents have rebounded more than 20% in the last 18 months, with Zone A rates again breaking through £300 per sq ft.

Two internationally recognised luxury brands - Let to Hotel Chocolat and l’Occitane, two
internationally recognised luxury brands, producing £520,000 p.a.

Opportunity to secure significant reversion - The l’Occitane lease benefits from a rent review on 13th October 2024, with the passing rent reflecting a Zone A rate of only £222 per sq ft, there is an opportunity to secure significant reversion.

Heritable Tile – Heritable Title (Scottish equivalent of English Freehold).

Offers are sought in excess of £7,500,000 exclusive of VAT for our client’s Heritable Interest.

A purchase at this level would reflect the following yield profile:

• Net Initial Yield of 6.50%, • Reversionary Yield of 7.65%
• Equivalent Yield of 7.63%

Yields are calculated based upon purchaser’s costs of 6.65% and our opinion of erv at £315 per sq ft Zone A.

Location

Located in Glasgow's city centre in a 100% prime position on the best section of Buchanan Street, which is bounded by St Vincent Street to the North and Argyle Street to the South.

Specifications

Two well configured retail units.
Buchanan Street has zero vacancy